1980 (2) TMI 116

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....to Rs. 9,000 collected by the assessee family are exempt under s. 5 (1)(xii) of the WT Act, 1957. 2. The WTO took the view that these coins were the commercial utility and were not puja coins as contended by the assessee. Accordingly, he included the amount of Rs. 9000 in the net wealth of the assessee. 3. The assessee appealed to the AAC of wealth tax. It was contended that the coins in que....

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....eated as works of art or archaeological collections. 5. On behalf of the assessee reliance was placed on the commentary by Gulnikar on this point in the work titled as Two Acts, 1976 edition, which has been relied on by the AAC in his order under appeal. 6. We have carefully considered the submissions of the parties. On facts, there is no dispute that these silver coins are first issues of c....